Hartline Investment Corp Sells 172,867 Shares of MP Materials Corp. (NYSE:MP)

Hartline Investment Corp decreased its position in shares of MP Materials Corp. (NYSE:MP) by 41.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 240,089 shares of the company’s stock after selling 172,867 shares during the quarter. MP Materials comprises approximately 0.8% of Hartline Investment Corp’s investment portfolio, making the stock its 26th biggest holding. Hartline Investment Corp’s holdings in MP Materials were worth $4,766,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of MP. Vanguard Group Inc. lifted its stake in MP Materials by 25.3% in the third quarter. Vanguard Group Inc. now owns 13,380,831 shares of the company’s stock valued at $255,574,000 after buying an additional 2,697,925 shares in the last quarter. Baillie Gifford & Co. lifted its stake in MP Materials by 26.2% in the fourth quarter. Baillie Gifford & Co. now owns 2,960,001 shares of the company’s stock valued at $58,756,000 after buying an additional 614,088 shares in the last quarter. Van ECK Associates Corp lifted its stake in MP Materials by 20.0% in the third quarter. Van ECK Associates Corp now owns 2,710,453 shares of the company’s stock valued at $51,770,000 after buying an additional 452,501 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in MP Materials by 12.0% in the third quarter. Bank of New York Mellon Corp now owns 2,293,334 shares of the company’s stock valued at $43,803,000 after buying an additional 246,534 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in MP Materials by 51.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,174,629 shares of the company’s stock valued at $22,435,000 after buying an additional 401,071 shares in the last quarter. Institutional investors own 52.55% of the company’s stock.

MP Materials Trading Down 0.8 %

NYSE MP traded down $0.12 during trading hours on Wednesday, reaching $15.74. The company’s stock had a trading volume of 2,324,134 shares, compared to its average volume of 3,591,042. The firm has a fifty day simple moving average of $15.27 and a 200-day simple moving average of $16.41. The stock has a market cap of $2.80 billion, a P/E ratio of 122.01 and a beta of 2.41. MP Materials Corp. has a 52 week low of $12.68 and a 52 week high of $26.53. The company has a debt-to-equity ratio of 0.50, a current ratio of 10.42 and a quick ratio of 9.54.

MP Materials (NYSE:MP) last released its quarterly earnings results on Thursday, February 22nd. The company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The firm had revenue of $41.21 million during the quarter, compared to analyst estimates of $47.40 million. MP Materials had a net margin of 9.59% and a return on equity of 3.86%. Equities analysts forecast that MP Materials Corp. will post -0.13 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Jefferies Financial Group cut their price target on shares of MP Materials from $36.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of MP Materials from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, April 11th. Morgan Stanley lowered shares of MP Materials from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $26.00 to $15.50 in a research report on Wednesday, March 13th. JPMorgan Chase & Co. lowered shares of MP Materials from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $20.00 to $16.00 in a research report on Tuesday. Finally, Canaccord Genuity Group cut their price objective on shares of MP Materials from $23.00 to $22.00 and set a “buy” rating on the stock in a research report on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.64.

MP Materials Company Profile

MP Materials Corp., together with its subsidiaries, produces rare earth materials. The company owns and operates the Mountain Pass Rare Earth mine and processing facility in North America. It holds the mineral rights to the Mountain Pass mine and surrounding areas, as well as intellectual property rights related to the processing and development of rare earth minerals.